China's urbanization rate to reach 50% by 2020

China's urbanization is entering an accelerating period according to the newly published 2009 City Development Report of China, an annual report conducted by China's Association of Mayors, the Xinhua News Agency reported.

Nearly 621.86 million people lived in cities in 2009, and the report estimates that by 2020, almost 50 percent of the Chinese population will live in cities, and by 2050,the percentage would grow to 75 percent.

The report mentions that during the past 60 years, China's urbanization pace has accelerated rapidly, from 10.6 percent in 1949 to 46.59 percent in 2009; the number of cities grew from 132 at the beginning of 1949 to 655 by 2009.

However, the world average urbanization ratio is 50 percent, and in developed countries 85 percent, and China's urbanization still lags behind the industrial development, which leaves huge room for further development.